seller holding on to the physical OTP form, to look for more buyers

[䏣炆玧示老太]

I love the unit, the only unit I walked in and fall in love with

So what’s the final agreed price?
Just topup to the seller demand lor

 

[tiong Hippo]

So what’s the final agreed price?
Just topup to the seller demand lor

$100k more, that will be at least $200k cov, the seller agent held me on ransom, because this resale I was buying is locater at Bishan

 

[䏣炆玧示老太]

$100k more, that will be at least $200k cov, the seller agent held me on ransom, because this resale I was buying is locater at Bishan

i see 2 ways out
1 get back $1k OTP fee walk off
2 agree to the new price get the new OTP paying $200k COV since you like it so much

 

[luxerio]

I thought once OTP issued, seller cannot find another buyer. The decision lies with the buyer whether to proceed or not. If proceed, pay another 4k, if not, forfeit the 1k. Why is it so complicated? By right, at the point of signing the phyiscal OTP, TS should have screenshot it be it by phone or what as evidence. You don't need physical hard copy, the photo is legal too.

I really hate this kind of sellers, trying to pull a fast one. TS, i support you to fight back by legal means. By simply walking away, aren't this making the seller life easier?

 

[luxerio]

i see 2 ways out
1 get back $1k OTP fee walk off
2 agree to the new price get the new OTP paying $200k COV since you like it so much

Why should TS do that. The OTP already signed, and TS paid the 1k. Seller cannot find another buyer. In my opinion, there is 3rd option, Seller must agree to the selling price set forth earlier with TS, else make a legal challenge.

 

[䏣炆玧示老太]

Why should TS do that. The OTP already signed, and TS paid the 1k. Seller cannot find another buyer. In my opinion, there is 3rd option, Seller must agree to the selling price set forth earlier with TS, else make a legal challenge.

No OTP Lar
He just paid $1k by cash without getting anything
He’s now extorted by his agent liao

 

[tiong Hippo]

I thought once OTP issued, seller cannot find another buyer. The decision lies with the buyer whether to proceed or not. If proceed, pay another 4k, if not, forfeit the 1k. Why is it so complicated? By right, at the point of signing the phyiscal OTP, TS should have screenshot it be it by phone or what as evidence. You don't need physical hard copy, the photo is legal too.

I really hate this kind of sellers, trying to pull a fast one. TS, i support you to fight back by legal means. By simply walking away, aren't this making the seller life easier?

My mistake was actually allowing the seller agent to put an otp date a few days later and also collecting the otp over the weekend. I should have made my way to collect the otp form even if the otp date is a few days later. I didn’t really expect the bishan news last friday. i asked the agent for a screenshot of the otp, even if it was not valid yet but she refused, just assuring me the otp were already signed, and focus on doing my loan

 

[GBC]

Seems like both seller and seller's agent in cahoot, should complain to CEA.

 

[tiong Hippo]

Why should TS do that. The OTP already signed, and TS paid the 1k. Seller cannot find another buyer. In my opinion, there is 3rd option, Seller must agree to the selling price set forth earlier with TS, else make a legal challenge.

that’s what hdb said too, even when buyer did not see the otp physically, as long the seller’s agent in form of text message inform the buyer, it is valid.

even if i am not going to pay the $200k cov, at least I block and prevent the seller from selling for next 21 days.

 

[䏣炆玧示老太]

that’s what hdb said too, even when seller did not see the otp physically, as long the seller’s agent in form of text message inform the buyer, it is valid.

even if i am not going to pay the $200k cov, at least I block and prevent the seller from selling for next 21 days.

then you lose your $1k when the 21 days expire lor,cos you didn't exercise it.
yar go ahead to complain the agent to whatever agency and stir it up,good luck

 

[tiong Hippo]

then you lose your $1k when the 21 days expire lor,cos you didn't exercise it.
yar go ahead to complain the agent to whatever agency and stir it up,good luck

you are wrong, even if the seller returns me my cheque, the otp is still valid, he has to wait for the otp to lapse after 21 days to find new seller

 

[䏣炆玧示老太]

you are wrong, even if the seller returns me my cheque, the otp is still valid, he has to wait for the otp to lapse after 21 days to find new seller

you think the "ready" buyer can't wait 21 days meh........agent trick lar

 

[vinz]

No offence... In a way too gullible.

Which seller / agent do not standby an OTP to be signed in case some buyer view and give a fantastic offer??

Recent transacted price is how much? And what is your offer?

Fall in love straight away, means the unit must had super fantastic reno or view, which would make it a highly sought after unit. (I assume their asking price won't be low too).

Their way of doing this deal is unethical to the max. Since already spoken to your legal, their advise should be no case since no OTP.

Either
1. Up your offer
2. Move on
3. Move on and sue them.

-vinz

 

[tiong Hippo]

you think the "ready" buyer can't wait 21 days meh........agent trick lar

Walking away just like this without fighting only make the seller’s agent smarter

 

[䏣炆玧示老太]

Walking away just like this without fighting only make the seller’s agent smarter

can complain to whom ar?
faster file complain lor don't wait

 

[sk0065]

Are these verbal or you have them in the form of text messages? I'll wal, away and lodge a complaint with the CEA.

Confirm.

if cannot cause the agent to lose her / his job also
Cause them enough trouble so that they stop doing all these nonsense and waste people’s time.

knn

 

[sk0065]

Confirm is take your offer
To push the other side for higher.

knn one.

 

[tiong Hippo]

No offence... In a way too gullible.

Which seller / agent do not standby an OTP to be signed in case some buyer view and give a fantastic offer??

Recent transacted price is how much? And what is your offer?

Fall in love straight away, means the unit must had super fantastic reno or view, which would make it a highly sought after unit. (I assume their asking price won't be low too).

Their way of doing this deal is unethical to the max. Since already spoken to your legal, their advise should be no case since no OTP.

Either
1. Up your offer
2. Move on
3. Move on and sue them.

-vinz

Hi vinz, both cea and hdb has advised me the otp is valid, and both strongly encouraged me to log a complaint against the seller‘s agent. yes, legal say as long there is no physical otp, it means no otp. Even if the seller pass me a physical otp but 1 week ago, it is still an otp and i will only have 14 days to exercise.

my first offer was $100k already above the srx value. Last transaction is $20,000 more than SRX value. I matched his listing on my first offer

now the seller agent is still waiting for me to increase my offer, and given me today 12am to do so

 

[tiong Hippo]

Confirm.

if cannot cause the agent to lose her / his job also
Cause them enough trouble so that they stop doing all these nonsense and waste people’s time.

knn

Yes, at least I can delay the seller another 18 days from finding, I am also happy

 

[todomachi]

I love the unit, the only unit I walked in and fall in love with

It is because of this that the seller agent is holding you ransom to for the unit.